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91_SB1203ccr001
LRB9106016EGfgccr3
1 91ST GENERAL ASSEMBLY
2 CONFERENCE COMMITTEE REPORT
3 ON SENATE BILL 1203
4 -------------------------------------------------------------
5 -------------------------------------------------------------
6 To the President of the Senate and the Speaker of the
7 House of Representatives:
8 We, the conference committee appointed to consider the
9 differences between the houses in relation to House Amendment
10 No. 1 to Senate Bill 1203, recommend the following:
11 (1) that the House recede from House Amendment No. 1; and
12 (2) that Senate Bill 1203 be amended as follows:
13 by replacing the title with the following:
14 "AN ACT in relation to State Bonds, amending named
15 Acts."; and
16 by replacing everything after the enacting clause with the
17 following:
18 "Section 5. The State Finance Act is amended by adding
19 Section 8.40 as follows:
20 (30 ILCS 105/8.40 new)
21 Sec. 8.40. Infrastructure Task Force fee prohibition. A
22 person who was a member of the Governor's Infrastructure Task
23 Force on May 1, 1999, and any entity in which such a person
24 has an ownership interest or distributive income share
25 exceeding 5%, or an amount greater than 60% of the annual
26 salary of the Governor, is prohibited from receiving any
27 legal, banking, or consulting fee relating to the issuance of
28 bonds or to other financing arrangements for projects arising
29 from reports or recommendations made by that Task Force.
30 Section 10. The General Obligation Bond Act is amended
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1 by changing Sections 2, 3, 4, 5, 6, 9, 11, and 16 as follows:
2 (30 ILCS 330/2) (from Ch. 127, par. 652)
3 Sec. 2. Authorization for Bonds. The State of Illinois
4 is authorized to issue, sell and provide for the retirement
5 of General Obligation Bonds of the State of Illinois in the
6 total amount of $16,177,847,592 $10,895,296,392 herein called
7 "Bonds".
8 Of the total amount of bonds authorized above, up to
9 $2,200,000,000 in aggregate original principal amount may be
10 issued and sold in accordance with the Baccalaureate Savings
11 Act in the form of General Obligation College Savings Bonds.
12 Of the total amount of bonds authorized above, up to
13 $300,000,000 in aggregate original principal amount may be
14 issued and sold in accordance with the Retirement Savings Act
15 in the form of General Obligation Retirement Savings Bonds.
16 The issuance and sale of Bonds pursuant to the General
17 Obligation Bond Act is an economical and efficient method of
18 financing the capital needs of the State. This Act will
19 permit the issuance of a multi-purpose General Obligation
20 Bond with uniform terms and features. This will not only
21 lower the cost of registration but also reduce the overall
22 cost of issuing debt by improving the marketability of
23 Illinois General Obligation Bonds.
24 Bonds shall be issued for the categories and specific
25 purposes expressed in Sections 2 through 8 and Section 16 of
26 this Act.
27 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
28 eff. 12-8-97; 90-586, eff. 6-4-98.)
29 (30 ILCS 330/3) (from Ch. 127, par. 653)
30 Sec. 3. Capital Facilities. The amount of $5,238,217,592
31 $4,335,266,392 is authorized to be used for the acquisition,
32 development, construction, reconstruction, improvement,
33 financing, architectural planning and installation of capital
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1 facilities within the State, consisting of buildings,
2 structures, durable equipment, land, and interests in land
3 for the following specific purposes:
4 (a) $1,516,755,446 $1,189,517,246 for educational
5 purposes by State universities and colleges, the Illinois
6 Community College Board created by the Public Community
7 College Act and for grants to public community colleges as
8 authorized by Sections 5-11 and 5-12 of the Public Community
9 College Act;
10 (b) $1,312,970,168 $1,126,370,168 for correctional
11 purposes at State prison and correctional centers;
12 (c) $433,941,786 $379,711,786 for open spaces,
13 recreational and conservation purposes and the protection of
14 land;
15 (d) $506,780,486 $482,280,486 for child care facilities,
16 mental and public health facilities, and facilities for the
17 care of disabled veterans and their spouses;
18 (e) $1,033,599,341 895,189,341 for use by the State, its
19 departments, authorities, public corporations, commissions
20 and agencies;
21 (f) $818,100 for cargo handling facilities at port
22 districts and for breakwaters, including harbor entrances, at
23 port districts in conjunction with facilities for small boats
24 and pleasure crafts;
25 (g) $173,527,796 $147,267,796 for water resource
26 management projects;
27 (h) $16,940,269 for the provision of facilities for food
28 production research and related instructional and public
29 service activities at the State universities and public
30 community colleges;
31 (i) $34,000,000 for grants by the Secretary of State, as
32 State Librarian, for central library facilities authorized by
33 Section 8 of the Illinois Library System Act and for grants
34 by the Capital Development Board to units of local government
35 for public library facilities;
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1 (j) $25,000,000 for the acquisition, development,
2 construction, reconstruction, improvement, financing,
3 architectural planning and installation of capital facilities
4 consisting of buildings, structures, durable equipment and
5 land for grants to counties, municipalities or public
6 building commissions with correctional facilities that do not
7 comply with the minimum standards of the Department of
8 Corrections under Section 3-15-2 of the Unified Code of
9 Corrections;
10 (k) $5,000,000 for grants in fiscal year 1988 by the
11 Department of Conservation for improvement or expansion of
12 aquarium facilities located on property owned by a park
13 district; and
14 (l) $138,484,200 $33,171,200 to State agencies for
15 grants to local governments for the acquisition, financing,
16 architectural planning, development, alteration,
17 installation, and construction of capital facilities
18 consisting of buildings, structures, durable equipment, and
19 land; and
20 (m) $40,400,000 for the Illinois Open Land Trust Program
21 as defined by the Illinois Open Land Trust Act.
22 The amounts authorized above for capital facilities may
23 be used for the acquisition, installation, alteration,
24 construction, or reconstruction of capital facilities and for
25 the purchase of equipment for the purpose of major capital
26 improvements which will reduce energy consumption in State
27 buildings or facilities.
28 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
29 eff. 12-8-97; 90-586, eff. 6-4-98.)
30 (30 ILCS 330/4) (from Ch. 127, par. 654)
31 Sec. 4. Transportation. The amount of $5,312,270,000
32 $2,484,270,000 is authorized for use by the Department of
33 Transportation for the specific purpose of promoting and
34 assuring rapid, efficient, and safe highway, air and mass
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1 transportation for the inhabitants of the State by providing
2 monies, including the making of grants and loans, for the
3 acquisition, construction, reconstruction, extension and
4 improvement of the following transportation facilities and
5 equipment, and for the acquisition of real property and
6 interests in real property required or expected to be
7 required in connection therewith as follows:
8 (a) $3,431,000,000 $1,411,000,000 for State highways,
9 arterial highways, freeways, roads, bridges, structures
10 separating highways and railroads and roads, and bridges on
11 roads maintained by counties, municipalities, townships or
12 road districts for the following specific purposes:
13 (1) $3,330,000,000 $1,310,000,000 for use
14 statewide,
15 (2) $3,641,000 for use outside the Chicago
16 urbanized area,
17 (3) $7,543,000 for use within the Chicago urbanized
18 area,
19 (4) $13,060,600 for use within the City of Chicago,
20 (5) $57,894,500 for use within the counties of
21 Cook, DuPage, Kane, Lake, McHenry and Will, and
22 (6) $18,860,900 for use outside the counties of
23 Cook, DuPage, Kane, Lake, McHenry and Will.
24 (b) $1,529,670,000 $883,270,000 for rail facilities and
25 for mass transit facilities, as defined in Section 49.19 of
26 the Civil Administrative Code of Illinois, including rapid
27 transit, rail, bus and other equipment used in connection
28 therewith by the State or any unit of local government,
29 special transportation district, municipal corporation or
30 other corporation or public authority authorized to provide
31 and promote public transportation within the State or two or
32 more of the foregoing jointly, for the following specific
33 purposes:
34 (1) $1,433,870,000 $787,470,000 statewide,
35 (2) $83,350,000 for use within the counties of
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1 Cook, DuPage, Kane, Lake, McHenry and Will,
2 (3) $12,450,000 for use outside the counties of
3 Cook, DuPage, Kane, Lake, McHenry and Will.
4 (c) $351,600,000 $190,000,000 for airport or aviation
5 facilities and any equipment used in connection therewith,
6 including engineering and land acquisition costs, by the
7 State or any unit of local government, special transportation
8 district, municipal corporation or other corporation or
9 public authority authorized to provide public transportation
10 within the State, or two or more of the foregoing acting
11 jointly.
12 (Source: P.A. 89-235, eff. 8-4-95; 90-1, eff. 2-20-97; 90-8,
13 eff. 12-8-97 (changed from 6-1-98 by P.A. 90-549); 90-586,
14 eff. 6-4-98.)
15 (30 ILCS 330/5) (from Ch. 127, par. 655)
16 Sec. 5. School Construction.
17 (a) The amount of $58,450,000 is authorized to make
18 grants to local school districts for the acquisition,
19 development, construction, reconstruction, rehabilitation,
20 improvement, financing, architectural planning and
21 installation of capital facilities, including but not limited
22 to those required for special education building projects
23 provided for in Article 14 of The School Code, consisting of
24 buildings, structures, and durable equipment, and for the
25 acquisition and improvement of real property and interests in
26 real property required, or expected to be required, in
27 connection therewith.
28 (b) $22,550,000, or so much thereof as may be necessary,
29 for grants to school districts for the making of principal
30 and interest payments, required to be made, on bonds issued
31 by such school districts after January 1, 1969, pursuant to
32 any indenture, ordinance, resolution, agreement or contract
33 to provide funds for the acquisition, development,
34 construction, reconstruction, rehabilitation, improvement,
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1 architectural planning and installation of capital facilities
2 consisting of buildings, structures, durable equipment and
3 land for educational purposes or for lease payments required
4 to be made by a school district for principal and interest
5 payments on bonds issued by a Public Building Commission
6 after January 1, 1969.
7 (c) $10,000,000 for grants to school districts for the
8 acquisition, development, construction, reconstruction,
9 rehabilitation, improvement, architectural planning and
10 installation of capital facilities consisting of buildings
11 structures, durable equipment and land for special education
12 building projects.
13 (d) $9,000,000 for grants to school districts for the
14 reconstruction, rehabilitation, improvement, financing and
15 architectural planning of capital facilities, including
16 construction at another location to replace such capital
17 facilities, consisting of those public school buildings and
18 temporary school facilities which, prior to January 1, 1984,
19 were condemned by the regional superintendent under Section
20 3-14.22 of The School Code or by any State official having
21 jurisdiction over building safety.
22 (e) $2,120,000,000 $1,100,000,000 for grants to school
23 districts for school improvement projects authorized by the
24 School Construction Law. The bonds shall be sold in amounts
25 not to exceed the following schedule, except any bonds not
26 sold during one year shall be added to the bonds to be sold
27 during the remainder of the schedule:
28 First year...................................$200,000,000
29 Second year.....................$450,000,000 $250,000,000
30 Third year......................$500,000,000 $250,000,000
31 Fourth year.....................$500,000,000 $200,000,000
32 Fifth year......................$300,000,000 $200,000,000
33 Sixth year...................................$170,000,000
34 (Source: P.A. 90-549, eff. 12-8-97.)
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1 (30 ILCS 330/6) (from Ch. 127, par. 656)
2 Sec. 6. Anti-Pollution.
3 (a) The amount of $244,635,000 $213,035,000 is
4 authorized for allocation by the Environmental Protection
5 Agency for grants or loans to units of local government in
6 such amounts, at such times and for such purpose as the
7 Agency deems necessary or desirable for the planning,
8 financing, and construction of municipal sewage treatment
9 works and solid waste disposal facilities and for making of
10 deposits into the Water Revolving Fund and the U.S.
11 Environmental Protection Fund to provide assistance in
12 accordance with the provisions of Title IV-A of the
13 Environmental Protection Act.
14 (b) The amount of $160,500,000 is authorized for
15 allocation by the Environmental Protection Agency for payment
16 of claims submitted to the State and approved for payment
17 under the Leaking Underground Storage Tank Program
18 established in Title XVI of the Environmental Protection Act.
19 (Source: P.A. 90-1, eff. 2-20-97; 90-8, eff. 12-8-97; 90-549,
20 eff. 12-8-97; 90-586, eff. 6-4-98.)
21 (30 ILCS 330/9) (from Ch. 127, par. 659)
22 Sec. 9. Conditions for Issuance and Sale of Bonds -
23 Requirements for Bonds. Bonds shall be issued and sold from
24 time to time, in one or more series, in such amounts and at
25 such prices as may be directed by the Governor, upon
26 recommendation by the Director of the Bureau of the Budget.
27 Bonds shall be in such form (either coupon, registered or
28 book entry), in such denominations, in the denomination of
29 $5,000 or some multiple thereof, payable within 30 years from
30 their date, subject to such terms of redemption with or
31 without premium, bear bearing interest payable at such times
32 and at such fixed rate or rates, and annually or semiannually
33 from their date at a rate that does not exceed that permitted
34 in "AN ACT to authorize public corporations to issue Bonds,
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1 other evidences of indebtedness and tax anticipation warrants
2 subject to interest rate limitations set forth therein",
3 approved May 26, 1970, as now or hereafter amended, and be
4 dated as shall be fixed and determined by the Director of the
5 Bureau of the Budget in the order authorizing the issuance
6 and sale of any series of Bonds, which order shall be
7 approved by the Governor and is herein called a "Bond Sale
8 Order"; provided however, that interest shall not exceed that
9 permitted in the Bond Authorization Act, as now or hereafter
10 amended prior to the giving of notice of the sale of any
11 Bonds. Said Bonds shall be payable at such place or places,
12 within or without the State of Illinois, and may be made
13 registrable as to either principal or as to both principal
14 and interest, as shall be specified in the Bond Sale Order
15 fixed and determined by the Director of the Bureau of the
16 Budget in the order authorizing the issuance and sale of such
17 Bonds. Bonds may be callable or subject to purchase and
18 retirement as fixed and determined in the Bond Sale Order.
19 by the Director of the Bureau of the Budget in the order
20 authorizing the issuance and sale of Bonds; provided;
21 however, that the State shall not pay a premium of more than
22 3% of the principal of any Bonds so called.
23 (Source: P.A. 83-1490; revised 10-31-98.)
24 (30 ILCS 330/11) (from Ch. 127, par. 661)
25 Sec. 11. Sale of Bonds. Bonds shall be sold from time to
26 time pursuant to notice of sale and public bid or by
27 negotiated sale in such amounts and at such times as is
28 directed by the Governor, upon recommendation by the Director
29 of the Bureau of the Budget to the highest and best bidders,
30 for not less than 97 percent of their par value, upon sealed
31 bids, at not exceeding the maximum interest rate for any
32 maturity as fixed in the order authorizing the issuance of
33 Bonds.
34 If any Bonds, including refunding Bonds, are to be sold
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1 by negotiated sale, the Director of the Bureau of the Budget
2 shall comply with the competitive request for proposal
3 process set forth in the Illinois Procurement Code and all
4 other applicable requirements of that Code.
5 If Bonds are to be sold pursuant to notice of sale and
6 public bid, The right to reject any and all bids may be
7 reserved. the Director of the Bureau of the Budget shall,
8 from time to time, as Bonds are to be sold, advertise the
9 sale of the Bonds in at least two daily newspapers, one of
10 which is published in the City of Springfield and one in the
11 City of Chicago, for proposals to purchase Bonds. The sale
12 of the Bonds shall also be advertised in the volume of the
13 Illinois Procurement Bulletin that is published by the
14 Department of Central Management Services. Each of the such
15 advertisements for proposals shall be published once at least
16 10 days prior to the date fixed for the opening of the bids.
17 The Director of the Bureau of the Budget may reschedule the
18 date of sale upon the giving of such additional notice as the
19 Director deems deemed to be adequate to inform prospective
20 bidders of such change; provided, however, that all other
21 conditions of the sale shall continue as originally
22 advertised.
23 Executed Bonds shall, upon payment therefor, be delivered
24 to the purchaser, and the proceeds of Bonds shall be paid
25 into the State Treasury as directed by Section 12 of this
26 Act.
27 (Source: P.A. 87-836; 88-552.)
28 (30 ILCS 330/16) (from Ch. 127, par. 666)
29 Sec. 16. Refunding Bonds. The amount of $2,839,025,000,
30 at any time and from time to time outstanding, $2,339,025,000
31 $2,036,500,000 herein called
14 "Bonds". Such authorized amount of Bonds shall be reduced
15 from time to time by amounts, if any, which are equal to the
16 moneys received by the Department of Revenue in any fiscal
17 year pursuant to Section 3-1001 of the "Illinois Vehicle
18 Code", as amended, in excess of the Annual Specified Amount
19 (as defined in Section 3 of the "Retailers' Occupation Tax
20 Act", as amended) and transferred at the end of such fiscal
21 year from the General Revenue Fund to the Build Illinois
22 Purposes Fund as provided in Section 3-1001 of said Code;
23 provided, however, that no such reduction shall affect the
24 validity or enforceability of any Bonds issued prior to such
25 reduction. Such amount of authorized Bonds shall be
26 exclusive of any refunding Bonds issued pursuant to Section
27 15 of this Act and exclusive of any Bonds issued pursuant to
28 this Section which are redeemed, purchased, advance refunded,
29 or defeased in accordance with paragraph (f) of Section 4 of
30 this Act. Bonds shall be issued for the categories and
31 specific purposes expressed in Section 4 of this Act.
32 (Source: P.A. 86-44; 86-78; 86-1473.)
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1 (30 ILCS 425/4) (from Ch. 127, par. 2804)
2 Sec. 4. Purposes of Bonds. Bonds shall be issued for the
3 following purposes and in the approximate amounts as set
4 forth below:
5 (a) $2,069,889,000 $1,470,419,000 for the expenses of
6 issuance and sale of Bonds, including bond discounts, and for
7 planning, engineering, acquisition, construction,
8 reconstruction, development, improvement and extension of the
9 public infrastructure in the State of Illinois, including:
10 the making of loans or grants to local governments for waste
11 disposal systems, water and sewer line extensions and water
12 distribution and purification facilities, rail or air or
13 water port improvements, gas and electric utility extensions,
14 publicly owned industrial and commercial sites, buildings
15 used for public administration purposes and other public
16 infrastructure capital improvements; the making of loans or
17 grants to units of local government for financing and
18 construction of wastewater facilities; refinancing or
19 retiring bonds issued between January 1, 1987 and January 1,
20 1990 by home rule municipalities, debt service on which is
21 provided from a tax imposed by home rule municipalities prior
22 to January 1, 1990 on the sale of food and drugs pursuant to
23 Section 8-11-1 of the Home Rule Municipal Retailers'
24 Occupation Tax Act or Section 8-11-5 of the Home Rule
25 Municipal Service Occupation Tax Act; the making of deposits
26 not to exceed $70,000,000 in the aggregate into the Water
27 Pollution Control Revolving Fund to provide assistance in
28 accordance with the provisions of Title IV-A of the
29 Environmental Protection Act; the planning, engineering,
30 acquisition, construction, reconstruction, alteration,
31 expansion, extension and improvement of highways, bridges,
32 structures separating highways and railroads, rest areas,
33 interchanges, access roads to and from any State or local
34 highway and other transportation improvement projects which
35 are related to economic development activities; the making of
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1 loans or grants for planning, engineering, rehabilitation,
2 improvement or construction of rail and transit facilities;
3 the planning, engineering, acquisition, construction,
4 reconstruction and improvement of watershed, drainage, flood
5 control, recreation and related improvements and facilities,
6 including expenses related to land and easement acquisition,
7 relocation, control structures, channel work and clearing and
8 appurtenant work; the making of grants for improvement and
9 development of zoos and park district field houses and
10 related structures; and the making of grants for improvement
11 and development of Navy Pier and related structures.
12 (b) $71,301,500 $46,301,500 for fostering economic
13 development and increased employment and the well being of
14 the citizens of Illinois, including: the making of grants for
15 improvement and development of McCormick Place and related
16 structures; the planning and construction of a
17 microelectronics research center, including the planning,
18 engineering, construction, improvement, renovation and
19 acquisition of buildings, equipment and related utility
20 support systems; the making of loans to businesses and
21 investments in small businesses; acquiring real properties
22 for industrial or commercial site development; acquiring,
23 rehabilitating and reconveying industrial and commercial
24 properties for the purpose of expanding employment and
25 encouraging private and other public sector investment in the
26 economy of Illinois; the payment of expenses associated with
27 siting the Superconducting Super Collider Particle
28 Accelerator in Illinois and with its acquisition,
29 construction, maintenance, operation, promotion and support;
30 the making of loans for the planning, engineering,
31 acquisition, construction, improvement and conversion of
32 facilities and equipment which will foster the use of
33 Illinois coal; the payment of expenses associated with the
34 promotion, establishment, acquisition and operation of small
35 business incubator facilities and agribusiness research
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1 facilities, including the lease, purchase, renovation,
2 planning, engineering, construction and maintenance of
3 buildings, utility support systems and equipment designated
4 for such purposes and the establishment and maintenance of
5 centralized support services within such facilities; and the
6 making of grants or loans to units of local government for
7 Urban Development Action Grant and Housing Partnership
8 programs.
9 (c) $521,128,600 $461,128,600 for the development and
10 improvement of educational, scientific, technical and
11 vocational programs and facilities and the expansion of
12 health and human services for all citizens of Illinois,
13 including: the making of construction and improvement grants
14 and loans to public libraries and library systems; the making
15 of grants and loans for planning, engineering, acquisition
16 and construction of a new State central library in
17 Springfield; the planning, engineering, acquisition and
18 construction of an animal and dairy sciences facility; the
19 planning, engineering, acquisition and construction of a
20 campus and all related buildings, facilities, equipment and
21 materials for Richland Community College; the acquisition,
22 rehabilitation and installation of equipment and materials
23 for scientific and historical surveys; the making of grants
24 or loans for distribution to eligible vocational education
25 instructional programs for the upgrading of vocational
26 education programs, school shops and laboratories, including
27 the acquisition, rehabilitation and installation of technical
28 equipment and materials; the making of grants or loans for
29 distribution to eligible local educational agencies for the
30 upgrading of math and science instructional programs,
31 including the acquisition of instructional equipment and
32 materials; miscellaneous capital improvements for
33 universities and community colleges including the planning,
34 engineering, construction, reconstruction, remodeling,
35 improvement, repair and installation of capital facilities
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1 and costs of planning, supplies, equipment, materials,
2 services, and all other required expenses; the making of
3 grants or loans for repair, renovation and miscellaneous
4 capital improvements for privately operated colleges and
5 universities and community colleges, including the planning,
6 engineering, acquisition, construction, reconstruction,
7 remodeling, improvement, repair and installation of capital
8 facilities and costs of planning, supplies, equipment,
9 materials, services, and all other required expenses; and the
10 making of grants or loans for distribution to local
11 governments for hospital and other health care facilities
12 including the planning, engineering, acquisition,
13 construction, reconstruction, remodeling, improvement, repair
14 and installation of capital facilities and costs of planning,
15 supplies, equipment, materials, services and all other
16 required expenses.
17 (d) $128,650,900 $58,650,900 for protection,
18 preservation, restoration and conservation of environmental
19 and natural resources, including: the making of grants to
20 soil and water conservation districts for the planning and
21 implementation of conservation practices and for funding
22 contracts with the Soil Conservation Service for watershed
23 planning; the making of grants to units of local government
24 for the capital development and improvement of recreation
25 areas, including planning and engineering costs, sewer
26 projects, including planning and engineering costs and water
27 projects, including planning and engineering costs, and for
28 the acquisition of open space lands, including the
29 acquisition of easements and other property interests of less
30 than fee simple ownership; the acquisition and related costs
31 and development and management of natural heritage lands,
32 including natural areas and areas providing habitat for
33 endangered species and nongame wildlife, and buffer area
34 lands; the acquisition and related costs and development and
35 management of habitat lands, including forest, wildlife
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1 habitat and wetlands; and the removal and disposition of
2 hazardous substances, including the cost of project
3 management, equipment, laboratory analysis, and contractual
4 services necessary for preventative and corrective actions
5 related to the preservation, restoration and conservation of
6 the environment, including deposits not to exceed $60,000,000
7 in the aggregate into the Hazardous Waste Fund and the
8 Brownfields Redevelopment Fund for improvements in accordance
9 with the provisions of Titles V and XVII of the Environmental
10 Protection Act.
11 (e) The amount specified in paragraph (a) above shall
12 include an amount necessary to pay reasonable expenses of
13 each issuance and sale of the Bonds, as specified in the
14 related Bond Sale Order (hereinafter defined).
15 (f) Any unexpended proceeds from any sale of Bonds which
16 are held in the Build Illinois Bond Fund may be used to
17 redeem, purchase, advance refund, or defease any Bonds
18 outstanding.
19 (Source: P.A. 86-44; 86-78; 86-1028; 86-1473; 87-873.)
20 Section 99. Effective date. This Act takes effect upon
21 becoming law.".
22 Submitted on May 27, 1999
23 s/Sen. James "Pate" Philip s/Rep. Michael Madigan
24 s/Sen. Stanley Weaver s/Rep. Barbara Flynn Currie
25 s/Sen. John Maitland s/Rep. Gary Hannig
26 s/Sen. Robert Molaro s/Rep. Art Tenhouse
27 s/Sen. Emil Jones Jr. s/Rep. Dan Rutherford
28 Committee for the Senate Committee for the House
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